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Gelatin Market is Projected to Reach $5.1 billion by 2028

03-27-2023 02:53 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Markets and Markets

Gelatin Market is Projected to Reach $5.1 billion by 2028

The global gelatin market will grow to USD 5.1 billion by 2028 and 3.7 billion by 2023, growing at a CAGR of 6.6% during the forecast period. The wider application scope, multiple functionalities, and clean-label claim are eventually driving the global gelatin market growth. With rising health consciousness among consumers and demand for "free-from" food products, the gelatin market is expected to rise. Due to its high protein content, there has also been an increasing demand for gelatin from the nutraceutical and sports nutrition segments.

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The animal source segment is expected to account for the largest share in 2023.

The animal source segment is anticipated to dominate the gelatin market in 2023. Gelatin is obtained through partial hydrolysis of collagen extracted from connective tissues, skin, tendons, and bones of various animal sources such as marine, including fish and squid, mammalian, poultry, and insects. It is widely used in food, health & nutrition, pharmaceutical, cosmetics & personal care, and other industries. Commercial production of gelatin is majorly from bovine and porcine bones and hides. Marine-sourced gelatin (fish) is produced and applied on a small scale. For instance, 41% of the global gelatin production is sourced from pig skin, 28.5% from bovine hides, and 29.5% from bovine bones.

The pharmaceuticals segment is projected to grow at the fastest rate among all the other applications in the gelatin market in 2023.

The pharmaceutical segment is considered to be the fastest-growing segment due to an increase in the use of gelatin in medicines, hard and soft capsules, tablet coating, granulation, surgical sponges, tableting, microencapsulation, and encapsulation. It is also used in plastic surgery, wound care, orthopedics, dentistry, and cardiovascular practices. Increasing instances of health and medical issues are mainly responsible for the overall growth in the usage of gelatin in medical applications.

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Europe region is witnessing the highest growth rate in the gelatin market.

Europeans are health-conscious and often scrutinize the ingredients on the labels before purchasing them. This high level of awareness has resulted in the rise in demand for nutritious and clean-label foods in Europe. The growing demand for convenience and functional foods in Europe due to fast-paced lifestyles and health-conscious consumers, along with the growing pharmaceutical industry, creates growth opportunities for the gelatin market. The presence of a few gelatin manufacturers such as Gelita A.G. (Germany), PB Leiner (Belgium), Trobas Gelatine B.V. (Netherlands), and Lapi Gelatine S.P.A. (Italy) is expected to drive the market for gelatin in Europe. Companies operating in the region also invest in product launches, joint ventures, and acquisitions to meet the growing demand from the food, beverage, and pharmaceutical industries. This ample availability of raw materials and the high dependence of the European population on these sources pose drivers for the growth of the gelatin market in the region.

Key players in this market include Darling Ingredients (US), Tessenderlo Group (Belgium), Nitta Gelatin, Inc. (Japan), Gelita AG (Germany), Weishardt (France), Lapi Gelatine Spa (Italy), India Gelatine & Chemicals Ltd. (India), Trobas Gelatine B.V. (Netherlands), Sterling (India), Roxlor (US), Suheung (South Korea), and Ewald Gelatin GmbH (Germany).

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Mr. Aashish Mehra
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